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Find a Stilton Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Stilton? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Stilton conveyancing at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Stilton conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Stilton

I can't travel far from Stilton. What is the rationale as to why all Stilton lawyers are not on all mortgage company panels?

Mortgage companies highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies removing less reputable firms from their official list of approved property lawyers .

I happen to be the sole beneficiary of my late mum's will with all property in now in my sole name, including the house in Stilton. Conveyancing formalities meant that the Land Registry date was in April. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be regarded the same way as if I'd bought the property in April. Do I have to wait 6 months to sell?

The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. Some lenders would take a practical view as this provision is principally there to pick up on the purchase and immediately sell or the flipping of properties.

I am due to exchange contracts on my apartment. I had a double glazing fitted in October 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Leeds Building Society are being difficult. The Stilton solicitor who is on the Leeds Building Society conveyancing panel is recommending indemnity insurance as a solution but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?

It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

I was told three weeks ago that my mortgage has been agreed to by Nottingham. Is it usual for Nottingham to only issue the offer once my solicitor in Stilton is approved on their conveyancing panel? Nottingham have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.

A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.

Will our conveyancer be raising questions about flooding as part of the conveyancing in Stilton.

The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Stilton. There are those who acquire a property in Stilton, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.

Conveyancers are not qualified to give advice on flood risk, however there are a number of checks that may be carried out by the purchaser or by their lawyers which can give them a better understanding of the risks in Stilton. The standard information sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the seller to determine if the premises has suffered from flooding. In the event that the premises has been flooded in past and is not notified by the owner, then a buyer could issue a legal claim for losses resulting from an incorrect response. The purchaser’s lawyers should also commission an enviro search. This should disclose whether there is any known flood risk. If so, additional inquiries should be made.

I decided to have a survey carried out on a property in Stilton prior to instructing solicitors. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies will not issue a loan on a flying freehold property.

It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Stilton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stilton to see if the conveyancing costs will increase in light of this.

What makes a Stilton lease problematic?

There is nothing unique about leasehold conveyancing in Stilton. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    A provision to repair to or maintain elements of the premises

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Royal Bank of Scotland, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

Leasehold Conveyancing in Stilton - Sample of Queries Prior to Purchasing

    The majority of Stilton leasehold flats will have a service charge for maintenance of the block levied on behalf of the management company. Where you acquire the flat you will have to pay this amount, normally periodically during the year. This can differ from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a rentcharge for you to pay yearly, this is usually not a significant amount, say approximately £25-£75 but you should to enquire as sometimes it could be surprisingly expensive. Are there any major works in the near future that will increase the service fees? How long is the Lease?

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Find out more about how flying freehold can affect your the value of a property.